CBM’s Retail Shopping Center Management & Leasing Blog

Retail Real Estate News & Trends in Southern California
 

Centers Business Management (CBM) leasing agent, Brett Mero, recently completed a lease transaction representing the landlord and tenant, Curves (Fitness) For Women, on 1,200 SQFT retail space. The unit is situated in a busy neighborhood shopping center at the signalized intersection of Lower Azusa Road and El Monte Avenue in prime El Monte. The property is positioned across the street from a high-volume 7-Eleven Gas Station.


Centers Business Management (CBM) leasing agent, Barry Bussiere, recently completed a lease transaction representing the landlord and tenant, Rad Doughnuts, an expanding artisanal donut maker, on a 750 SQFT retail space. The unit is in a 7-Eleven anchored corner strip center at the intersection of Grand Avenue and Gladstone Street in prime Gardena. The property is situated amid a thriving residential neighborhood, and positioned across the intersection from a newer, well-patronized community shopping center.


Centers Business Management (CBM) Valley Division Director, Dave O’Connell, and leasing agent, Brett Mero, recently completed a lease transaction representing the landlord in a deal with a local Cuban restaurant on a 1,146 SQFT retail space. The unit is situated in larger strip center assemblage that stretches several blocks along busy East Los Angeles Avenue, just east of First Street, amid Simi Valley’s primary retail trade area. This bustling Simi Valley Cinema anchored community center’s diverse co-tenants include Chase Bank, Union Bank, McDonald’s, Jack in the Box and more.


Centers Business Management (CBM) leasing agent, David Levcovitch, recently completed a lease transaction representing the landlord and tenant, a local dental clinic, on a 1,680 SQFT retail space. The unit is situated in a sizable community shopping center at the intersection of Glenoaks Boulevard and Sayre Street in prime Sylmar. The center’s diverse co-tenants include Pizza Hut.


Centers Business Management (CBM) Valley Division Director, Dave O’Connell, and leasing agent, Brett Mero, recently completed a lease transaction representing landlord and tenant, a local Mexican restaurant, on a 1,508 SQFT retail space. The unit is in a busy neighborhood shopping center at the intersection of Sherman Way and Kester Avenue in prime Van Nuys. The property is situated amid a thriving residential neighborhood.


Centers Business Management (CBM) Valley Division Director, Dave O’Connell, recently completed a lease transaction representing landlord and tenant, Mitsuwa Marketplace, on a 56,682 SQFT freestanding retail building. The building is situated on Western Avenue, just south of Torrance Boulevard in prime Torrance. Mitsuwa Marketplace is a supermarket chain that offers a variety of Japanese groceries, cosmetics and other home goods. The property is adjacent to a large, multi-pad community shopping center that stretches from Torrance Boulevard, south along Western Avenue, to Mitsuwa Marketplace.


Centers Business Management (CBM) leasing agent, Brett Mero, recently completed a lease transaction representing landlord and tenant in a deal with Metro PCS (cell phone sales + service), on a 906 SQFT retail space. The unit is situated in a 7-Eleven anchored strip center at the signalized intersection Laurel Canyon Boulevard and Oxnard Street in prime North Hollywood. The property is immediately off the 170 Freeway (Hollywood Freeway) and shares the intersection with a high sales volume Shell Gas Station.


Payless Is Said to Be Filing for Bankruptcy as Soon as Next Week

Payless Inc., the struggling discount shoe chain, is preparing to file for bankruptcy as soon as next week, according to people familiar with the matter.

The company is initially planning to close 400 to 500 stores as it reorganizes operations, said the people, who asked not to be identified because the deliberations aren’t public. Payless had originally looked to shutter as many as 1,000 locations, and the number may still be in flux, according to one of the people.

Payless’s bankruptcy would add to a tumultuous year in retail, with several bankruptcies and hundreds of store closings — even at companies that aren’t distressed. The industry is racing to try to adapt to more online purchasing and a shift away from mall shopping.

Payless was bought by private equity firms Golden Gate Capital and Blum Capital Partners in 2012 as part of the breakup of publicly traded Collective Brands Inc. The company, founded in 1956 in Topeka, Kansas, employs almost 22,000 people, according to its website. It has more than 4,000 stores in 30 countries.

Payless didn’t immediately respond to a request for comment.

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Centers Business Management (CBM) leasing agent, Brett Mero, recently completed a lease transaction representing the landlord in a deal with Miracle Ear (hearing aid sales and service), on an 850 SQFT retail space. The unit is situated in a community shopping center at the signalized intersection of Saticoy Street and Laurel Canyon Boulevard prime North Hollywood. The Auto Zone anchored center’s diverse co-tenants include Title Max auto loans, mini market, coin laundry, dental clinic, bakery and more.


Centers Business Management (CBM) West LA Leasing Director, Geoff Grossman, and leasing agent, Aaron Guido, recently completed a lease transaction representing the landlord in a deal with I Defy Fitness (fitness studio), on a 2,298 SQFT retail space. The unit is situated in a retail office park at the signalized intersection of Los Coyote Diagonals and Wardlow Road in prime Long Beach. The property includes a diverse mix of medical and service based tenants, and is positioned directly across the street for a heavily-patronized Ralphs Grocery store.